Bitso partners with Coincover to provide security for digital assets

ChainCatcher news, according to CoinDesk, the Latin American cryptocurrency exchange Bitso announced a partnership with blockchain security company Coincover to provide security for digital assets. By integrating with Bitso's multi-party computation (MPC) infrastructure, Coincover will offer non-custodial disaster recovery, providing protection for the exchange against events such as hacking or loss of access.

In addition, Bitso will use Coincover to monitor outgoing transactions in real-time. According to Immunefi data, the cryptocurrency sector has lost over $900 million this year due to hacking and fraud, with $572 million stolen just in the second quarter.